Texas man sentenced to 23 years for involvement in $20 million cryptocurrency scam

Texas man Robert Dunlap was sentenced to 23 years in federal prison for his involvement in a cryptocurrency scam exceeding $20 million and was ordered to pay restitution to nearly 1,000 victims.

Prosecutors stated that Dunlap operated a cryptocurrency project and sold Meta - 1 Coin, falsely claiming that the token was backed by $44 billion in gold and approximately $1 billion in artwork, including works by Pablo Picasso, Vincent van Gogh, and Salvador Dalí, and that the assets had been audited. A jury had found him guilty of mail fraud last year.